7 Articles match "America","Payment","Sales"

• The Best from RealtyTrac

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• America's Most Expensive Foreclosure?
  
  But now some of the most opulent estates are increasingly becoming available for savvy investors and homebuyers as a growing number of well-healed homeowners are defaulting on their mortgage payments and property taxes. The widow of one of America’s richest publishing dynasties, Randolph Hearst , lost her battle to maintain the mansion under the crushing weight of an astounding $40 million in defaulting loans, according to the Palm Beach Post . Mention the word “foreclosure” and most homebuyers and investors conjure up images of run-down and dilapidated properties located in undesirable neighborhoods.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 40 Is the New 30 for Lenders and Investors
  
  Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years. Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Not Enough Rope in Administration's Lifeline' Program
  
  The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., The homeowners have to be more than 90 days behind on their mortgage payments, and call in once they get a letter from their lender asking them to reaffirm that they want to stay in their home. Plus, the program is not available to borrowers who are within 30 days of the property’s foreclosure sale (in most states Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• How Much for Those Lender Assets in the Window?
  
  You could look at the Merrill sale and say, Aha! In September Merrill was bought by the Bank of America for $29 a share . One can see investors looking at delinquency and foreclosure rates, loan age and also geographic concentrations, down payment data, equity, income, credit ratings, sale terms and other factors. How Much for Those Lender Assets in the Window? By Peter G. Miller    Long ago there was a song which asked the magic question, how much for that doggie in the window?
  www.realtytrac.com - Tuesday, February 3, 2009
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• Another Approach to $700 Billion Bailout
  
  If a typical home has an average sale price of about $220,000 (many homes now facing foreclosure were financed several years ago with two loans, thus first loans are often significantly less than current market values), and if the average mortgage is $176,000 (80 percent of market values) then the total value of such mortgages would be $440 billion. Lenders accepting this money now would have to modify each current mortgage to a fixed rate established by Uncle Sam as well as a renewed 30-year term. "Borrowers in this scenario would be required to share future appreciation 50/50 with
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• High-End Foreclosures Rising Among Top Tier Homes
  
  But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind on their construction loans, mortgage payments, property taxes, auto loans and credit cards at an alarmingly fast pace, according to industry analysts, economists and real estate brokers . In January, properties entering some stage of foreclosure in Las Vegas outnumbered the sales of new and existing homes for the first time, according to a comparison of RealtyTrac foreclosure data and sales data.
  www.realtytrac.com - Tuesday, February 3, 2009
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• As Home Prices Plummet, When Will You Buy?
  
  For example you see Bank of America adopting a massive, systematic loan modification program. The estimates ranged from 25 to 40 percent from peak to trough, but all the economists thought prices could overshoot going down (as they did going up) and could be down as much as 55 percent in parts of Southern California.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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